Key Points
- Senior Vice President Stephen Rooney sold 1,500 Orange County Bancorp shares at an average price of $38.71, generating $58,065 and reducing his direct holdings by 14.84% to 8,606 shares.
- Orange County Bancorp reported quarterly EPS of $1.02, exceeding the $0.80 consensus estimate, while revenue of $27.82 million fell short of the $33.00 million forecast.
- Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $39.25; Hovde Group recently raised its target to $42.50.
Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) SVP Stephen Rooney sold 1,500 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $38.71, for a total transaction of $58,065.00. Following the sale, the senior vice president directly owned 8,606 shares of the company's stock, valued at $333,138.26. This represents a 14.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Orange County Bancorp Stock Performance
Shares of Orange County Bancorp stock opened at $38.89 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. The company has a market cap of $521.51 million, a PE ratio of 10.95 and a beta of 0.41. The company has a 50 day moving average of $36.69 and a 200-day moving average of $34.42. Orange County Bancorp, Inc. has a 1-year low of $22.98 and a 1-year high of $40.10.
Orange County Bancorp (NASDAQ:OBT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.80 by $0.22. Orange County Bancorp had a net margin of 30.80% and a return on equity of 16.80%. The business had revenue of $27.82 million during the quarter, compared to the consensus estimate of $33.00 million.
Orange County Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.72 annualized dividend and a yield of 1.9%. Orange County Bancorp's dividend payout ratio is presently 20.28%.
Hedge Funds Weigh In On Orange County Bancorp
Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in Orange County Bancorp by 5,416.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 993 shares of the company's stock valued at $25,000 after acquiring an additional 975 shares in the last quarter. Royal Bank of Canada boosted its position in Orange County Bancorp by 108.3% during the first quarter. Royal Bank of Canada now owns 1,029 shares of the company's stock worth $33,000 after purchasing an additional 535 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Orange County Bancorp in the second quarter worth about $28,000. Tower Research Capital LLC TRC raised its position in shares of Orange County Bancorp by 706.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company's stock valued at $89,000 after purchasing an additional 3,025 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Orange County Bancorp during the 2nd quarter valued at approximately $104,000. 42.55% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have commented on OBT shares. Hovde Group lifted their target price on Orange County Bancorp from $40.00 to $42.50 and gave the stock an "outperform" rating in a report on Friday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Orange County Bancorp in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.
View Our Latest Research Report on OBT
About Orange County Bancorp
(
Get Free Report)
Orange County Bancorp, Inc (NASDAQ: OBT) is the bank holding company for Orange County Trust Bank, a community banking franchise headquartered in Goshen, New York. The company provides a full suite of financial services to individuals, small businesses and local organizations across Orange County and the surrounding Hudson Valley region.
Orange County Bancorp offers depository products that include checking and savings accounts, money market funds and certificates of deposit. On the lending side, the company extends commercial real estate and business loans, residential mortgage loans, consumer installment loans and home equity financing.
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